To address the concerns of Senate Democrats, the bill had already been amended to include stricter requirements for stablecoin issuers for further provisions for Anti-Money Laundering.
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US Stablecoin bill blocked as Democrats withdraw support
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Republican expressed surprise at the GENIUS Act’s failure to pass cloture, as it undergone six revisions, including enhanced anti–money laundering measures and restrictions on public officials profiting from stablecoins, to accommodate Democratic demands
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